underwriting guidelines

Loan AmountThe minimum loan amount is $50,000 with a maximum of $3,000,000.

Loan to Value ("LTV"):The maximum loan to value is 65% of the as repaired value of the property.

Minimum Down Payment:Borrowers are required to contribute a minimum of 20% - 30% equity for each loan. This must be in the form of cash consideration, not "created" equity.

Personal Guarantee:Personal guaranties are required for all loans for the entire loan amount. If a borrower is an entity then a personal guarantee is required by the entity owner(s). If the borrower is an individual, then the guarantor cannot be a spouse.

Interest Impound:Borrowers are required to deposit up to two months of interest payments at loan closing that are held in case of a loan default to be applied to the borrower's account at Center Street Lending's discretion. In the event that the borrower complies with all of the terms and conditions of the loan, the interest impound is credited to the borrower at full loan payoff.

FHA Compatibility:Collateral must qualify for compatibility under the current FHA financing guidelines upon repair and resale by borrower

Investors Only:We are a private money lender providing loans exclusively to professional residential real estate investors. We do not provide loans to consumers or owner occupants. Specifically, if you are looking to finance a property you are currently living in, or you are planning on residing in the property, we are not a candidate to provide financing. Our borrowers are required, at loan closing, to provide a written certification that guarantees, represents and warrants to us that the borrower's intended use of the loaned funds will be utilized exclusively for a real estate investment opportunity.*Underwriting guidelines are subject to change without notice